{"id":31674,"date":"2023-10-31T05:52:35","date_gmt":"2023-10-31T09:52:35","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=31674"},"modified":"2023-10-31T05:52:35","modified_gmt":"2023-10-31T09:52:35","slug":"sol-price-solana-momentum-reignites-indicators-signal-surge-to-38","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/31\/sol-price-solana-momentum-reignites-indicators-signal-surge-to-38\/","title":{"rendered":"SOL Price (Solana) Momentum Reignites: Indicators Signal Surge To $38"},"content":{"rendered":"

Solana is gaining pace above the $35 resistance against the US Dollar. SOL price remains supported and might aim for a fresh rally toward $38.<\/em><\/p>\n

SOL price started a major rally above the $32 resistance against the US Dollar.
\nThe price is now trading above $35 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $33.30 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair is up nearly 10% and might surge further toward the $38 resistance.<\/p>\n

Solana Price Rallies 10%<\/h2>\n

After a decent upward move, Solana settled above the $30 pivot level. SOL gained bullish momentum after it formed a base above the $30 and $32 levels.<\/p>\n

It is now outperforming Bitcoin<\/a> and Ethereum<\/a>. There was a clear move above the $35 resistance zone. A new multi-week high is formed near $36.48 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $32.34 swing low to the $36.48 high.<\/p>\n

SOL is now trading above $35 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $33.30 on the 4-hour chart of the SOL\/USD pair.<\/p>\n

<\/a><\/p>\n

Source: SOLUSD on TradingView.com<\/a><\/p>\n

On the upside, immediate resistance is near the $36.50 level. The first major resistance is near the $36.80 level. A successful close above the $36.80 resistance could set the pace for a larger increase. The next key resistance is near $38.00. Any more gains might send the price toward the $40.00 level.<\/p>\n

Are Dips Limited in SOL?<\/h2>\n

If SOL fails to recover above the $36.50 resistance, it could start a downside correction. Initial support on the downside is near the $34.40 level.<\/p>\n

The first major support is near the $33.30 level, the trend line zone, and the 76.4% Fib retracement level of the upward move from the $32.34 swing low to the $36.48 high. If there is a close below the $33.30 support, the price could decline toward the $32.00 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for SOL\/USD is gaining pace in the bullish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is above the 50 level.<\/p>\n

Major Support Levels \u2013 $34.40, and $33.30.<\/p>\n

Major Resistance Levels \u2013 $36.50, $36.80, and $38.00.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana is gaining pace above the $35 resistance against the US Dollar. SOL price remains supported and might aim for a fresh rally toward $38.<\/em><\/p>\n

SOL price started a major rally above the $32 resistance against the US Dollar.
\nThe price is now trading above $35 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $33.30 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair is up nearly 10% and might surge further toward the $38 resistance.<\/p>\n

Solana Price Rallies 10%<\/h2>\n

After a decent upward move, Solana settled above the $30 pivot level. SOL gained bullish momentum after it formed a base above the $30 and $32 levels.<\/p>\n

It is now outperforming Bitcoin<\/a> and Ethereum<\/a>. There was a clear move above the $35 resistance zone. A new multi-week high is formed near $36.48 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $32.34 swing low to the $36.48 high.<\/p>\n

SOL is now trading above $35 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $33.30 on the 4-hour chart of the SOL\/USD pair.<\/p>\n

<\/a><\/p>\n

Source: SOLUSD on TradingView.com<\/a><\/p>\n

On the upside, immediate resistance is near the $36.50 level. The first major resistance is near the $36.80 level. A successful close above the $36.80 resistance could set the pace for a larger increase. The next key resistance is near $38.00. Any more gains might send the price toward the $40.00 level.<\/p>\n

Are Dips Limited in SOL?<\/h2>\n

If SOL fails to recover above the $36.50 resistance, it could start a downside correction. Initial support on the downside is near the $34.40 level.<\/p>\n

The first major support is near the $33.30 level, the trend line zone, and the 76.4% Fib retracement level of the upward move from the $32.34 swing low to the $36.48 high. If there is a close below the $33.30 support, the price could decline toward the $32.00 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for SOL\/USD is gaining pace in the bullish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is above the 50 level.<\/p>\n

Major Support Levels \u2013 $34.40, and $33.30.<\/p>\n

Major Resistance Levels \u2013 $36.50, $36.80, and $38.00.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-31674","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=31674"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31674\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31674"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}